Some baseless rumors are perfectly harmless. Believing Elvis sightings or trying to duplicate the famed (but failed) Pop Rocks candy-and-soda explosion wont cause irreparable damage. But when falsehoods about credit scores go unchecked, your financial well-being is on the line.

Dont wreck your credit by following advice based on baseless rumors. Lets slam the brakes on the credit score rumor mill and lay these seven myths to rest.

1. Closing an account removes all evidence of its existence from your record. (See also: Cutting up a credit card closes the account.)
Wouldnt it be nice if we could erase our past credit...